TUPELO, Miss. and HOUSTON — BancorpSouth Bank (BXS) and Cadence Bancorporation (CADE), the parent company of Cadence Bank, N.A., have entered into a merger agreement under which the companies will combine in an all-stock merger with a total market value of more than $6 billion to create a leading Texas and southeastern regional bank.

Under the terms of the merger agreement, which was unanimously approved by the boards of directors of both companies, Cadence shareholders will receive 0.70 shares of BXS for each share of CADE they own. Additionally, the agreement allows for a onetime special cash dividend to CADE shareholders of $1.25 per share in conjunction with the closing of the merger. BancorpSouth shareholders will own approximately 55 percent, and Cadence shareholders will own approximately 45 percent of the combined company. The company will operate as Cadence Bank.

For more information, visit www.bancorpsouth.com or www.cadencebank.com.